Experience

• • Clayton, Dubilier & Rice in its strategic partnership with Elevance Health, which will bring together certain care delivery and enablement assets of Elevance’s Carelon Health and CD&R portfolio companies, apree health and Millennium Physician Group.
  • Clayton, Dubilier & Rice in the formation of Clayton, Dubilier & Rice Fund XII, an approximately $26 billion fund, its largest fund to date.
  • Fortitude Re, a Carlyle portfolio company, in its $28 billion reinsurance transaction with Lincoln Financial Group.
  • Fifth Wall in the formation of its Real Estate Technology Fund III, an $866 million property technology fund aiming to invest in technologies relevant or complementary to the built environment.
  • Fifth Wall in the formation of its Early-Stage Climate Technology Fund, a $500 million venture capital fund that invests in climate change mitigation technologies aiming to decarbonize the real estate industry.
  • Clayton, Dubilier & Rice in its acquisition of a majority stake in the industrial businesses of Roper Technologies, which operates market-leading businesses that design and develop vertical software and application-specific products, in a transaction valued at $3.7 billion.
  • Carlyle in its $2.1 billion capital raise and equity investment in Fortitude Re and the formation of a strategic advisory services agreement.
  • Fifth Wall in the formation of its European Real Estate Technology Fund, a €140 million fund targeting investments in high-potential European startups, and potential co-investing opportunities alongside Fifth Wall’s North American Real Estate Tech funds.
  • Clayton, Dubilier & Rice in the sale of its investment in Belron, a worldwide leader in vehicle glass repair and replacement, valuing the company at €21 billion, including the formation of a new special purpose vehicle formed to continue CD&R’s partnership with Belron. The transaction was named “Secondaries Deal of the Year” by Buyouts magazine.
  • Fortitude Re, a Carlyle portfolio company, in its acquisition of a $31 billion block of legacy variable annuities from Prudential Financial for a total transaction value of $2.2 billion.
  • Core & Main, a Clayton, Dubilier & Rice portfolio company, in its $803 million initial public offering.
  • Clayton, Dubilier & Rice in the formation of Clayton, Dubilier & Rice Fund XI, a $16 billion North America and Western Europe fund.
  • Clayton, Dubilier & Rice in its £308 million acquisition of Wolseley UK, a leading distributor of plumbing, heating and climate products.
  • Carlyle as a lead investor in the $1 billion launch of Vantage Group, a new re/insurance entity and its wholly owned subsidiary, Vantage Risk, a new property catastrophe reinsurance provider.
  • HarbourVest Partners in the formation of Dover Street X, an $8.1 billion global secondaries fund.
  • StepStone Group in its acquisition of the sole limited partner interest in Acre Venture Partners, and the subsequent restructuring of certain portfolio assets.
  • Global Atlantic, a retirement and life insurance company with $70 billion in investable assets, in its $4.4 billion sale to KKR.
  • RL LP in its sale of Lincoln Benefit Life to an affiliate of Kuvare US Holdings.
  • Clayton, Dubilier & Rice and TRANZACT in the $1.3 billion sale of TRANZACT to Willis Towers Watson.
  • Carlyle in its strategic partnership with AIG to position DSA Re as a platform to provide solutions for insurance liabilities globally.
  • HarbourVest Partners as lead buyer in the GP-led LP tender in connection with The Resolute Fund III.
  • Resolution Life, a global life insurance group focusing on the acquisition and management of portfolios of life insurance policies, in its sale of Lincoln Benefit Life to Global Bankers Insurance Group. (Terminated)
  • HarbourVest Partners in the formation of HarbourVest Partners Co-Investment Fund IV, a $1.75 billion global buyout/growth equity fund.
  • Clayton, Dubilier & Rice in its $2.5 billion acquisition of HD Supply’s Waterworks Division, the largest distributor of waterworks products in the United States.
  • Clayton, Dubilier & Rice in the formation of Clayton, Dubilier & Rice Fund X, a $10 billion North America and Western Europe buyout fund.
  • Carmel Partners in the formation of Carmel Partners Investment Fund VI, a $1 billion U.S. real estate fund.
  • Activision Blizzard in the financing aspects of its $5.9 billion acquisition of King Digital.
  • Newport Global Advisors in the recapitalization of Newport Global Opportunities Fund LP. In the transaction, investment funds managed by Morgan Stanley, LGT Capital and other syndicate investors committed capital to a newly formed Newport-managed fund that acquired substantially all of the portfolio of the existing fund. Existing limited partners elected to either roll their interests into the new fund or receive cash in respect of their interest.
  • Swiss Re Corporate Solutions in its $153 million acquisition of IHC Risk Solutions and its direct employer stop loss business from Independence Holding Company.
  • American Securities and P2 Capital Partners in their $855 million acquisition of Blount International.
  • Protective Life in its acquisition by reinsurance of certain in-force blocks of term life insurance from Genworth Life and Annuity Insurance Company.
  • Carlyle in the formation of Carlyle Europe Partners IV, a €3.75 billion Europe buyout fund.
  • Carlyle in the formation of Carlyle Europe Technology Partners III, a €656 million Europe growth capital/technology fund.
  • StanCorp Financial Group in its $5 billion sale to Meiji Yasuda Life Insurance Company.
  • Diamond Castle in the restructuring of, and secondary sale of interests in, Diamond Castle Partners IV. In the transaction, investment funds managed by Goldman Sachs Asset Management, Intermediate Capital Group and other syndicate investors committed capital to a newly formed Diamond Castle-managed fund that acquired most of the portfolio of Fund IV, and Fund IV limited partners elected either to participate in the longer term potential of the portfolio by rolling their interests into the new fund or to effectively sell their interests to the buying syndicate.
  • Global Atlantic, a retirement and life insurance company, in the sale of Ariel Re, its Bermuda and Lloyd’s insurance and reinsurance businesses to BTG Banco Pactual.